Singapore morning news for November 30

Singapore morning news for November 30

Singapore morning news

Experts see underground urban development as big opportunity for Singapore
For land-scarce cities like Singapore, developing underground spaces is the next big frontier in urban planning, experts said here Thursday during a lecture on underground at the Ministry of National Development.
— Xinhua

STE marine unit poised to land contract valued up to S$400m
THE marine arm of defence and engineering group, Singapore Technologies Engineering (STE), is poised to clinch a contract valued at under S$400 million with Singapore’s Police Coast Guard (PCG).
— The Business Times

Electronic payments to be licensed as financial services extend beyond banks and borders
Grab and Go-Jek, the Southeast Asian ride-hailing platforms that were disrupting traditional banking services by offering electronic payments and other financial services, have since formed alliances with banks as part of their aggressive expansion plans.
— The Edge

Thales launches Singapore digital centre
French technology and aerospace company Thales has added Singapore to its digital factory network. The launch event was officiated by Minister for Trade and Industry Chan Chun Sing on Thursday.
— The Business Times

Singapore shakes as Lee looks to retire
When Singapore Prime Minister Lee Hsien Loong announced that he intended to retire to make way for a younger generation executive from his ruling People’s Action Party (PAP), speculation ran rampant over who would be tapped to succeed the long-time leader.
— Asia Times

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In bid to cut out cheats, SkillsFuture enhances fraud detection systems
Following a record multi-million-dollar scam last year, SkillsFuture Singapore (SSG) has strengthened its fraud detection systems with data analytics to detect bogus claims more quickly.
— Today Singapore

It’s time to consider injecting CPF capital into the Singapore bourse
AS competition between capital markets across the Indo-Asia Pacific grows, it is time Singapore’s Ministry of Finance reviews the policy of not allocating pension fund capital to underwrite liquidity in Singapore’s equities markets. Such a move would also complement current efforts to build up the city-state’s entrepreneurial ecosystem as it seeks to transition towards an innovation economy.
— The Business Times

Ministry of Manpower data: Local workers earning more
Median income rises as more younger and older people find employment this year.
— The New Paper

IMDA geo-blocks two Malaysian news websites in Singapore for refusing to take down “fake news”
The Infocomm Media Development Board (IMDA) has geo-blocked Internet users in Singapore from accessing two alternative Malaysian news websites after both publications refused to take down articles that have been deemed false by the Singapore authorities.
— The Independent sg

Singapore and Argentina to work on economic pacts
Singapore and Argentina will start talks next year on a pact to avoid double taxation, and plan to conclude negotiations on an investment treaty by the first half of next year.
— Straits Times

Singapore’s labour market has improved and income growth is up, MOM says in latest report
Singaporeans also continued to earn higher incomes in the past five years.
— Business Insider

Changi Airport’s passenger traffic up 4.3% last month
October proved to be a busy month at Changi Airport with numbers up across the board.
— Straits Times

Guidelines for commercial fund-raisers to be issued
The Commissioner of Charities is coming up with a set of guidelines for commercial fund-raisers so that donors can give without feeling undue pressure.
— The New Paper

Transparency key amid ‘golden opportunity’ for charities: Grace Fu
THE widespread use of technology has lowered the barriers to entry for fundraising, making it a “golden opportunity” for charities to reach out to more – and new – donors, Minister for Culture, Community and Youth Grace Fu has said.
— The Business Times

Fintech firm Revolut gets green light to expand to Japan and Singapore
British mobile bank Revolut has obtained licenses to operate in Japan and Singapore as it readies an expansion into Asia.

Go-Jek launches its beta version in Singapore — hires marketing head and agency partners
Indonesian ride sharing app Go-Jek has officially launched in Singapore. In its beta phase, the app will be available on priority to DBS/POSB bank customers.
— Mumbrella

Round 2 of ride-hailing battle taking a different route
THE bell has sounded for Round 2 of the battle between ride-hailing firms in Singapore, with Indonesian startup unicorn Gojek rolling into town with the launch of its beta app on Thursday. But these are not the days of Grab versus Uber. With opposing sides now in Super App mode and regulations sparking a shift of power back to the people, the industry is in for an interesting ride.
— The Business Times

Shaw Tower alerts tenants it may be redeveloped
Shaw Tower at 100 Beach Road is the latest in a string of post-independence landmarks that could undergo redevelopment, following the advance notice its 150 tenants have been given to relocate elsewhere on or before June 30, 2020.
— Straits Times

Kimly rolls back Asian Story acquisition, requests for trading of shares to resume
Singapore-listed coffee shop operator Kimly Limited is backing out on its $16 million acquisition of drinks manufacturer Asian Story Corporation (ASC) – a deal authorities have asked about as part of an investigation.
— The Straits Times

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Singapore investors hearing part of active vs passive debate: Natixis
Try making sense of this latest study of Singapore investors conducted by Natixis Investment Managers. More than six in 10 Singapore investors surveyed or 64% believe index funds are less risky than other investment vehicles. And two thirds (67%) believe index funds can help them minimise loss of returns while 66% of Singapore investors — vs 58% globally — trust that …
— The Edge

Asian healthcare specialists’ 2H18 earnings more than trebled to $1 mil
Asian Healthcare Specialists (AHS) reported 2H18 earnings ended Sept more than trebled to $1 million from $287,000 in 2H17. This brings FY18 earnings to $2.5 million, up more than five times from $0.4 million, its first full-year results since its listing in April.
— The Edge

Industry group here working on code for digital token sector
An industry association that will oversee digital tokens such as bitcoin and devise efficient ways to regulate the sector officially started here yesterday.
— Straits Times

Trendlines eyes agritech startups in Singapore
FTER making headway into the agritech scene in Israel, having amassed 21 companies in its portfolio, Catalist-listed startup incubator Trendlines is now shifting its focus to Singapore, said its chief executive officer Steve Rhodes.
— The Business Times (paywall)

SGX plans rules on mainboard issue managers
New rules are on the cards that will hold issue managers more accountable for the companies they help to list on the Singapore Exchange (SGX) mainboard.
— Straits Times

US firm sets up photonics innovation centre in Jurong
Photonics, the science behind how light transmits data, is already in use here in fibre optic cables that provide people with an Internet connection, but its potential is huge, said American firm Palomar Technologies in launching a new research facility here.
— Straits Times

Leading Singapore VC plans to invest RM75 million into Malaysian tech startups
Golden Gate Ventures, a leading Singapore-based venture capital firm, today announced the opening of its Kuala Lumpur office.
— Soyacincau

Maid sends in video showing that her employer gave her rice in a bin filled with insects
The plight of domestic helpers in Singapore seems to be a worsening situation, with many more helpers speaking out about dire conditions that they are put in. Earlier today, one domestic helper contacted HOME, the Humanitarian Organisation for Migration Economics to share her situation.
— The Independent sg

Commentary: If more work in old age, how relevant is the retirement age?
Last month, Prudential made the retirement age a thing of the past.
— Channel News Asia

Why is AVA is asking whether ivory sale should be banned? The answer is obviously yes
The Agri-Food and Veterinary Authority (AVA) is seeking feedback from the public on whether to totally ban ivory sale in Singapore.
— The Online Citizen

Man fined for trying to take more than S$460,000 cash out of Singapore
A man has been fined S$8,000 for attempting to take more than S$460,000 in cash out of Singapore earlier this month, the police said in a news release on Thursday (Nov 29).
— Channel News Asia

Speaking up on sexual abuse
The 10 women appear before the camera one by one, and – without masking their identities – speak about the sexual violence and harassment they have endured, from workplace harassment to sexual abuse to rape.
— Straits Times

Fashionably conscious
Home-grown clothing manufacturer I Apparel International Group is helping to elevate benchmarks for the apparel manufacturing industry by embracing lean sustainable manufacturing.
— The Business Times

Trump-Kim summit costume is ‘representation of what Singapore stands for’: Miss Universe Singapore
The Trump-Kim summit may be long over, but the historic event is back in the spotlight once again through an unlikely platform – the national costume of Miss Universe Singapore Zahra Khanum.
—Channel News Asia


Feature photo Action for Aids Singapore

This week’s Singapore morning news feature photo acknowledges World AIDS Day, December 1


Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Singapore morning news by AEC News Today is your one stop source for Singapore news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

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With a decade of experience as an editor and journalist, Roy has edited mastheads across Australia and Southeast Asia, from the remote island communities of the Torres Strait to Cambodia’s only award-winning newspaper, The Phnom Penh Post.

A a professional photographer since the days of film, he holds a Bachelor of Arts in Photomedia and a Postgraduate Diploma in Journalism.

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